Ti-6Al-4V Titanium Alloy Market by Application and Geography - Forecast and Analysis 2022-2026

Published: Oct 2022

Pages: 127

SKU: IRTNTR74546

Snapshot

The Ti-6Al-4V Titanium Alloy Market is projected to grow by USD 707.41 million with a CAGR of 3.05% during the forecast period 2021 to 2026.

This market research report provides valuable insights into the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers the market segmentation by application (medical, aerospace, chemical, automobile, and others) and geography (APAC, North America, Europe, South America, and the Middle East and Africa). The market report also offers information on several market vendors, including Allegheny Technologies Inc., AMETEK Inc., Baoji Titanium Industry Co. Ltd., Carpenter Technology Corp., Eramet, Haynes International Inc., Hebei Metals Industrial Ltd., Heraeus Holding GmbH, Hermith GmbH, NeoNickel, Nippon Steel Corp., Nova Steel Corp., PTC Industries Ltd., Rickard Metals Inc., Rostec, Sandvik AB, Smiths Metal Centres Ltd., Tekna Holdings ASA, and ThyssenKrupp AG among others.

What will the Ti-6Al-4V Titanium Alloy Market Size be During the Forecast Period?

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Ti-6Al-4V Titanium Alloy Market: Key Drivers, Trends, and Challenges

Our researcher studied the historical data for years, with 2021 as the base year and 2022 as the estimated year, and produced drivers, trends, and challenges for the market. During the COVID-19 pandemic, the market demand has been impacted greatly. A holistic analysis of drivers will help in predicting exact demands and refining marketing strategies to gain a competitive advantage.

Key Ti-6Al-4V Titanium Alloy Market Driver

The high demand for Ti-6Al-4V titanium alloy for orthopedic implants is one of the factors driving the market growth. The most common forms of titanium used in medical devices and implants are titanium 6AL4V and 6AL4V ELI alloys composed of 6% of aluminum and 4% of vanadium. These titanium alloys are frequently used in surgical operations and body piercings due to their compatibility with the human body. In skeletally mature patients, titanium alloy is strongly recommended for spinal fusion procedures to be used with autogenous bone grafts. For instance, the Titanium/PEEK Posterior LEIF (Lateral Expandable Interbody Fusion) cage was introduced by Zavation Medical Products in 2021. Thus, the rising demand for Ti-6Al-4V titanium alloy implants in the medical devices industry is expected to drive the growth of the market during the forecast period.

Key Ti-6Al-4V Titanium Alloy Market Trend

Emerging applications of titanium alloys are one of the key market trends fueling the market growth. Commercially titanium-based alloys are becoming the standard material of construction in many applications due to their corrosion-resistant properties. The resistance of titanium to many unfavourable and harsh environments allows end-users to plan for longer equipment life with reduced maintenance and downtime. The applications of titanium alloys are gradually becoming popular in heat exchangers in many chemical processes, in dimensionally stable anodes for chlorine and chlorate production, and in bleaching equipment in pulp and paper plants. Thus, these factors are anticipated to drive the growth of the market during the forecast period.

Key Ti-6Al-4V Titanium Alloy Market Challenge

The stringent certification process hindering the adoption of new technologies is one of the factors limiting the market's growth. A significant barrier to the acceptance of new technologies in aerospace applications is the certification required for the use of new materials. In the aerospace industry, the standards are based on decisions by government bodies; for instance, in the US Air Force, materials and processes must be certified separately for each program. The certification process typically lasts 18-24 months and requires extensive qualification procedures. During this process, a company must manufacture test or prototype components and validate their properties at its expense. Thus, these factors are expected to hinder the growth of the market during the forecast region.

This market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global Ti-6Al-4V titanium alloy market as a part of the global diversified metals and mining market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the market during the forecast period.

Who are the Major Ti-6Al-4V Titanium Alloy Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

This statistical study of the market encompasses successful business strategies deployed by the key vendors. The market is fragmented, and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Product Insights and News

heraeus.com - The company offers Ti-6Al-4V titanium alloy characterized by high corrosion resistance, high mechanical strength, and biocompatibility.

To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments.

The market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Ti-6Al-4V Titanium Alloy Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the Ti-6Al-4V titanium alloy market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and the evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for Ti-6Al-4V Titanium Alloy Market?

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54% of the market’s growth will originate from APAC during the forecast period. China and Japan are the key markets for the Ti-6Al-4V titanium alloy in APAC. Market growth in this region will be faster than the growth of the market in other regions.

The rising demand for medical implants will facilitate market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID-19 Impact and Recovery Analysis

The COVID-19 pandemic negatively impacted the growth of the market in countries such as the US and Canada in 2020. However, there was a gradual recovery in the market in the region in the latter part of 2020 due to the availability of COVID-19 vaccines and the decline in the number of COVID-19 cases. Owing to these factors, the market is expected to witness growth during the forecast period.

What are the Revenue-generating Application Segments in the Ti-6Al-4V Titanium Alloy Market?

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The market share growth in the medical segment will be significant during the forecast period. The ability of titanium to bond with living tissue and bone makes it the perfect material for orthopedic implants such as knee and hip replacements. It is suitable for manufacturing many different medical devices because of its strength and improved corrosion resistance. This, in turn, will have a positive impact on the regional market.

This report provides an accurate prediction of the contribution of all the segments to the growth of the market size and actionable market insights on the post-COVID-19 impact on each segment.

Ti-6Al-4V Titanium Alloy Market Scope
Report Coverage	Details
Page number	127
Base year	2021
Forecast period	2022-2026
Growth momentum & CAGR	Accelerate at a CAGR of 3.05%
Market growth 2022-2026	$707.41 million
Market structure	Fragmented
YoY growth (%)	2.9
Regional analysis	APAC, North America, Europe, South America, and the Middle East and Africa
Performing market contribution	APAC at 54%
Key consumer countries	US, China, Japan, Germany, and France
Competitive landscape	Leading companies, Competitive Strategies, Consumer engagement scope
Key companies profiled	Allegheny Technologies Inc., AMETEK Inc., Baoji Titanium Industry Co. Ltd., Carpenter Technology Corp., Eramet, Haynes International Inc., Hebei Metals Industrial Ltd., Heraeus Holding GmbH, Hermith GmbH, NeoNickel, Nippon Steel Corp., Nova Steel Corp., PTC Industries Ltd., Rickard Metals Inc., Rostec, Sandvik AB, Smiths Metal Centres Ltd., Tekna Holdings ASA, and thyssenkrupp AG
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Ti-6Al-4V Titanium Alloy Market Report?

CAGR of the market during the forecast period 2022-2026
Detailed information on factors that will drive market growth during the next five years
Precise estimation of the market size and its contribution to the parent market
Accurate predictions on upcoming trends and changes in consumer behaviour
The growth of the Ti-6Al-4V titanium alloy industry across APAC, North America, Europe, South America, and the Middle East and Africa
A thorough analysis of the market’s competitive landscape and detailed information on vendors
Comprehensive details of factors that will challenge the growth of market vendors

We can help! Our analysts can customize this report to meet your requirements. Get in touch

Table of Contents

1 Executive Summary

1.1 Market overview
- Exhibit 01: Executive Summary – Chart on Market Overview
- Exhibit 02: Executive Summary – Data Table on Market Overview
- Exhibit 03: Executive Summary – Chart on Global Market Characteristics
- Exhibit 04: Executive Summary – Chart on Market by Geography
- Exhibit 05: Executive Summary – Chart on Market Segmentation by Application
- Exhibit 06: Executive Summary – Chart on Incremental Growth
- Exhibit 07: Executive Summary – Data Table on Incremental Growth
- Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

2.1 Market ecosystem
- Exhibit 09: Parent market
- Exhibit 10: Market Characteristics

3 Market Sizing

3.1 Market definition
- Exhibit 11: Offerings of vendors included in the market definition

3.2 Market segment analysis
- Exhibit 12: Market segments

3.3 Market size 2021

3.4 Market outlook: Forecast for 2021-2026
- Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ million)
- Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ million)
- Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
- Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

4 Five Forces Analysis

4.1 Five forces summary
- Exhibit 17: Five forces analysis - Comparison between 2021 and 2026

4.2 Bargaining power of buyers
- Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026

4.3 Bargaining power of suppliers
- Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026

4.4 Threat of new entrants
- Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026

4.5 Threat of substitutes
- Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026

4.6 Threat of rivalry
- Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026

4.7 Market condition
- Exhibit 23: Chart on Market condition - Five forces 2021 and 2026

5 Market Segmentation by Application

5.1 Market segments
- Exhibit 24: Chart on Application - Market share 2021-2026 (%)
- Exhibit 25: Data Table on Application - Market share 2021-2026 (%)

5.2 Comparison by Application
- Exhibit 26: Chart on Comparison by Application
- Exhibit 27: Data Table on Comparison by Application

5.3 Medical - Market size and forecast 2021-2026
- Exhibit 28: Chart on Medical - Market size and forecast 2021-2026 ($ million)
- Exhibit 29: Data Table on Medical - Market size and forecast 2021-2026 ($ million)
- Exhibit 30: Chart on Medical - Year-over-year growth 2021-2026 (%)
- Exhibit 31: Data Table on Medical - Year-over-year growth 2021-2026 (%)

5.4 Aerospace - Market size and forecast 2021-2026
- Exhibit 32: Chart on Aerospace - Market size and forecast 2021-2026 ($ million)
- Exhibit 33: Data Table on Aerospace - Market size and forecast 2021-2026 ($ million)
- Exhibit 34: Chart on Aerospace - Year-over-year growth 2021-2026 (%)
- Exhibit 35: Data Table on Aerospace - Year-over-year growth 2021-2026 (%)

5.5 Chemical - Market size and forecast 2021-2026
- Exhibit 36: Chart on Chemical - Market size and forecast 2021-2026 ($ million)
- Exhibit 37: Data Table on Chemical - Market size and forecast 2021-2026 ($ million)
- Exhibit 38: Chart on Chemical - Year-over-year growth 2021-2026 (%)
- Exhibit 39: Data Table on Chemical - Year-over-year growth 2021-2026 (%)

5.6 Automobile - Market size and forecast 2021-2026
- Exhibit 40: Chart on Automobile - Market size and forecast 2021-2026 ($ million)
- Exhibit 41: Data Table on Automobile - Market size and forecast 2021-2026 ($ million)
- Exhibit 42: Chart on Automobile - Year-over-year growth 2021-2026 (%)
- Exhibit 43: Data Table on Automobile - Year-over-year growth 2021-2026 (%)

5.7 Others - Market size and forecast 2021-2026
- Exhibit 44: Chart on Others - Market size and forecast 2021-2026 ($ million)
- Exhibit 45: Data Table on Others - Market size and forecast 2021-2026 ($ million)
- Exhibit 46: Chart on Others - Year-over-year growth 2021-2026 (%)
- Exhibit 47: Data Table on Others - Year-over-year growth 2021-2026 (%)

5.8 Market opportunity by Application
- Exhibit 48: Market opportunity by Application ($ million)

6 Customer Landscape

6.1 Customer landscape overview
- Exhibit 49: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

7 Geographic Landscape

7.1 Geographic segmentation
- Exhibit 50: Chart on Market share by geography 2021-2026 (%)
- Exhibit 51: Data Table on Market share by geography 2021-2026 (%)

7.2 Geographic comparison
- Exhibit 52: Chart on Geographic comparison
- Exhibit 53: Data Table on Geographic comparison

7.3 APAC - Market size and forecast 2021-2026
- Exhibit 54: Chart on APAC - Market size and forecast 2021-2026 ($ million)
- Exhibit 55: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
- Exhibit 56: Chart on APAC - Year-over-year growth 2021-2026 (%)
- Exhibit 57: Data Table on APAC - Year-over-year growth 2021-2026 (%)

7.4 North America - Market size and forecast 2021-2026
- Exhibit 58: Chart on North America - Market size and forecast 2021-2026 ($ million)
- Exhibit 59: Data Table on North America - Market size and forecast 2021-2026 ($ million)
- Exhibit 60: Chart on North America - Year-over-year growth 2021-2026 (%)
- Exhibit 61: Data Table on North America - Year-over-year growth 2021-2026 (%)

7.5 Europe - Market size and forecast 2021-2026
- Exhibit 62: Chart on Europe - Market size and forecast 2021-2026 ($ million)
- Exhibit 63: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
- Exhibit 64: Chart on Europe - Year-over-year growth 2021-2026 (%)
- Exhibit 65: Data Table on Europe - Year-over-year growth 2021-2026 (%)

7.6 South America - Market size and forecast 2021-2026
- Exhibit 66: Chart on South America - Market size and forecast 2021-2026 ($ million)
- Exhibit 67: Data Table on South America - Market size and forecast 2021-2026 ($ million)
- Exhibit 68: Chart on South America - Year-over-year growth 2021-2026 (%)
- Exhibit 69: Data Table on South America - Year-over-year growth 2021-2026 (%)

7.7 Middle East and Africa - Market size and forecast 2021-2026
- Exhibit 70: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
- Exhibit 71: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
- Exhibit 72: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
- Exhibit 73: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)

7.8 US - Market size and forecast 2021-2026
- Exhibit 74: Chart on US - Market size and forecast 2021-2026 ($ million)
- Exhibit 75: Data Table on US - Market size and forecast 2021-2026 ($ million)
- Exhibit 76: Chart on US - Year-over-year growth 2021-2026 (%)
- Exhibit 77: Data Table on US - Year-over-year growth 2021-2026 (%)

7.9 China - Market size and forecast 2021-2026
- Exhibit 78: Chart on China - Market size and forecast 2021-2026 ($ million)
- Exhibit 79: Data Table on China - Market size and forecast 2021-2026 ($ million)
- Exhibit 80: Chart on China - Year-over-year growth 2021-2026 (%)
- Exhibit 81: Data Table on China - Year-over-year growth 2021-2026 (%)

7.10 Germany - Market size and forecast 2021-2026
- Exhibit 82: Chart on Germany - Market size and forecast 2021-2026 ($ million)
- Exhibit 83: Data Table on Germany - Market size and forecast 2021-2026 ($ million)
- Exhibit 84: Chart on Germany - Year-over-year growth 2021-2026 (%)
- Exhibit 85: Data Table on Germany - Year-over-year growth 2021-2026 (%)

7.11 Japan - Market size and forecast 2021-2026
- Exhibit 86: Chart on Japan - Market size and forecast 2021-2026 ($ million)
- Exhibit 87: Data Table on Japan - Market size and forecast 2021-2026 ($ million)
- Exhibit 88: Chart on Japan - Year-over-year growth 2021-2026 (%)
- Exhibit 89: Data Table on Japan - Year-over-year growth 2021-2026 (%)

7.12 France - Market size and forecast 2021-2026
- Exhibit 90: Chart on France - Market size and forecast 2021-2026 ($ million)
- Exhibit 91: Data Table on France - Market size and forecast 2021-2026 ($ million)
- Exhibit 92: Chart on France - Year-over-year growth 2021-2026 (%)
- Exhibit 93: Data Table on France - Year-over-year growth 2021-2026 (%)

7.13 Market opportunity by geography
- Exhibit 94: Market opportunity by geography ($ million)

8 Drivers, Challenges, and Trends

8.1 Market drivers

8.2 Market challenges

8.3 Impact of drivers and challenges
- Exhibit 95: Impact of drivers and challenges in 2021 and 2026

8.4 Market trends

9 Vendor Landscape

9.1 Overview

9.2 Vendor landscape
- Exhibit 96: Overview on Criticality of inputs and Factors of differentiation

9.3 Landscape disruption
- Exhibit 97: Overview on factors of disruption

9.4 Industry risks
- Exhibit 98: Impact of key risks on business

10 Vendor Analysis

10.1 Vendors covered
- Exhibit 99: Vendors covered

10.2 Market positioning of vendors
- Exhibit 100: Matrix on vendor position and classification

10.3 Allegheny Technologies Inc.
- Exhibit 101: Allegheny Technologies Inc. - Overview
- Exhibit 102: Allegheny Technologies Inc. - Business segments
- Exhibit 103: Allegheny Technologies Inc. - Key offerings
- Exhibit 104: Allegheny Technologies Inc. - Segment focus

10.4 Baoji Titanium Industry Co. Ltd.
- Exhibit 105: Baoji Titanium Industry Co. Ltd. - Overview
- Exhibit 106: Baoji Titanium Industry Co. Ltd. - Product / Service
- Exhibit 107: Baoji Titanium Industry Co. Ltd. - Key offerings

10.5 Carpenter Technology Corp.
- Exhibit 108: Carpenter Technology Corp. - Overview
- Exhibit 109: Carpenter Technology Corp. - Business segments
- Exhibit 110: Carpenter Technology Corp. - Key offerings
- Exhibit 111: Carpenter Technology Corp. - Segment focus

10.6 Eramet
- Exhibit 112: Eramet - Overview
- Exhibit 113: Eramet - Business segments
- Exhibit 114: Eramet - Key news
- Exhibit 115: Eramet - Key offerings
- Exhibit 116: Eramet - Segment focus

10.7 Haynes International Inc.
- Exhibit 117: Haynes International Inc. - Overview
- Exhibit 118: Haynes International Inc. - Business segments
- Exhibit 119: Haynes International Inc. - Key offerings
- Exhibit 120: Haynes International Inc. - Segment focus

10.8 Heraeus Holding GmbH
- Exhibit 121: Heraeus Holding GmbH - Overview
- Exhibit 122: Heraeus Holding GmbH - Product / Service
- Exhibit 123: Heraeus Holding GmbH - Key offerings

10.9 Nova Steel Corp.
- Exhibit 124: Nova Steel Corp. - Overview
- Exhibit 125: Nova Steel Corp. - Product / Service
- Exhibit 126: Nova Steel Corp. - Key offerings

10.10 Sandvik AB
- Exhibit 127: Sandvik AB - Overview
- Exhibit 128: Sandvik AB - Business segments
- Exhibit 129: Sandvik AB - Key news
- Exhibit 130: Sandvik AB - Key offerings
- Exhibit 131: Sandvik AB - Segment focus

10.11 Smiths Metal Centres Ltd.
- Exhibit 132: Smiths Metal Centres Ltd. - Overview
- Exhibit 133: Smiths Metal Centres Ltd. - Product / Service
- Exhibit 134: Smiths Metal Centres Ltd. - Key offerings

10.12 Tekna Holdings ASA
- Exhibit 135: Tekna Holdings ASA - Overview
- Exhibit 136: Tekna Holdings ASA - Product / Service
- Exhibit 137: Tekna Holdings ASA - Key offerings

11 Appendix

11.1 Scope of the report

11.2 Inclusions and exclusions checklist
- Exhibit 138: Inclusions checklist
- Exhibit 139: Exclusions checklist

11.3 Currency conversion rates for US$
- Exhibit 140: Currency conversion rates for US$

11.4 Research methodology
- Exhibit 141: Research methodology
- Exhibit 142: Validation techniques employed for market sizing
- Exhibit 143: Information sources

11.5 List of abbreviations
- Exhibit 144: List of abbreviations

Methodology

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

INFORMATION SOURCES

Primary sources

Manufacturers and suppliers
Channel partners
Industry experts
Strategic decision makers

Secondary sources

Industry journals and periodicals
Government data
Financial reports of key industry players
Historical data
Press releases

DATA ANALYSIS

Data Synthesis

Collation of data
Estimation of key figures
Analysis of derived insights

Data Validation

Triangulation with data models
Reference against proprietary databases
Corroboration with industry experts

REPORT WRITING

Qualitative

Market drivers
Market challenges
Market trends
Five forces analysis

Quantitative

Market size and forecast
Market segmentation
Geographical insights
Competitive landscape

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Key Questions Answered

What are the key global market and the regional market share?
What are the revenue-generating key market segments?
What are the key factors driving and challenging this market’s growth?
Who are the key market vendors and their growth strategies?
What are the latest trends influencing the growth of this market?
What are the variables influencing the market growth in the primary regions?
What are the factors influencing the growth of the parent market?

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